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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09223
Pioneer Tax Advantaged Balanced Trust
(Exact name of registrant as specified in charter)
60 State Street, Boston, MA 02109
(Address of principal executive offices) (ZIP code)
Dorothy E. Bourassa, Pioneer Investment Management, Inc.,
60 State Street, Boston, MA 02109
(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 742-7825
Date of fiscal year end: November 30
Date of reporting period: February 28, 2005
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (239.24 and 274.5 of this
chapter), to file reports with the Commission, not later than 60 days after
close of the first and third fiscal quarters, pursuant to Rule 30b1-5under
the Investment Company Act of 1940 (17 CFR 270.30b-5). The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW,
Washington, DC 20549-0609. The OMB has reviewed this collection of information
under the clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. Schedule of Investments.
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited)
Principal S&P/Moody's
Amount Ratings Value
TAX EXEMPT OBLIGATIONS - 75.4% of Net Assets
Alabama - 2.9%
$ 6,990,000AAA/Aaa Birmingham Waterworks & Sewer Revenue, 5.0%, 1/1/43 $ 7,144,199
5,000,00NR/A2 Huntsville Health Care Authority Revenue, 5.75%, 6/1/32 5,325,900
$ 12,470,099
Arizona - 2.9%
10,285,000BB-/Ca Gila County Industrial Development Authority, 5.55%, 1/1/27 $ 9,285,401
1,000,00NR/Baa3 Pima County Industrial Development Authority, 6.375%, 7/1/31 1,016,040
1,000,00NR/Baa3 Pima County Industrial Development Authority, 6.75%, 7/1/31 1,032,330
1,000,00NR/NR Pima County Industrial Development Authority, 7.5%, 7/1/34 1,017,220
$ 12,350,991
California - 1.2%
1,000,00BBB+/Baa1 California Health Facilities Authority Revenue, 5.25%, 7/1/23 $ 1,030,830
4,000,00BBB/Baa3 Golden State Tobacco Securitization Corp., 6.75%, 6/1/39 4,187,360
$ 5,218,190
Connecticut - 1.6%
4,190,00BBB/Baa1 Connecticut State Development Authority Pollution Control Revenue, 5.85%, $ 4,450,325
1,000,00AAA/Aaa Connecticut State Health & Educational Facilities Authority Revenue, 5.0%, 1,063,620
1,500,00BB+/NR Mohegan Tribe Indians Gaming Authority, 5.25%, 1/1/33 1,470,000
$ 6,983,945
District of Columbia - 1.0%
4,000,00BBB/Baa3 District of Columbia Tobacco Settlement Financing Corp., 6.75%, 5/15/40 $ 4,144,720
Florida - 5.6%
5,000,00AAA/Aa1 Florida State Board of Education, 5.0%, 6/1/16 $ 5,526,000
5,000,00A/A2 Highlands County Health Facilities Authority Revenue, 6.0%, 11/15/25 5,454,250
10,980,000AA-/Aa3 Jefferson Water & Sewer System Revenue, 5.0%, 10/1/41 11,075,526
2,025,00BB/NR Miami Beach Health Facilities Authority, 5.375%, 11/15/28 1,847,914
500,0BB/Ba2 Miami Beach Health Facilities Authority, 6.7%, 11/15/19 530,545
$ 24,434,235
Georgia - 1.4%
1,000,00AAA/Aaa Georgia State General Obligation, 2.0%, 12/1/23 $ 702,790
2,500,00BBB/NR Milledgeville-Baldwin County Development Authority Revenue, 5.5%, 9/1/24 2,636,500
2,500,00BBB/NR Milledgeville-Baldwin County Development Authority Revenue, 5.625%, 9/1/30 2,615,325
$ 5,954,615
Illinois - 5.0%
3,000,00AAA/Aaa Chicago Illinois General Obiligation, 5.0%, 1/1/28 $ 3,117,120
4,580,00A-/Baa1 Illinois Development Finance Authority Revenue, 5.25%, 10/1/24 4,779,688
5,000,00AA+/Aa1 Illinois Educational Facilities Authority Revenue, 5.0%, 12/1/38 5,153,400
2,000,00AA+/Aa2 Illinois Finance Authority Revenue, 5.5%, 8/15/43 2,130,020
5,095,00NR/A1 Illinois Health Facilities Authority Revenue, 5.75%, 7/1/15 5,462,349
1,130,00CCC/Caa1 Illinois Health Facilities Authority Revenue, 6.375%, 1/1/15 1,013,610
$ 21,656,187
Indiana - 2.2%
4,135,00BB+/Ba3 Indiana State Development Finance Authority Revenue, 5.75%, 10/1/11 $ 4,278,278
5,100,00AAA/Aaa Indiana Transportation Finance Authority Highway Revenue, 5.0%, 6/1/28 5,298,900
$ 9,577,178
Kansas - 1.4%
5,000,00AAA/Aaa Wyandotte County Unified Government Utility System Revenue, 5.65%, 9/1/19 $ 5,863,650
Louisiana - 1.7%
7,335,00BBB/Baa3 Tobacco Settlement Financing Corp., 5.875%, 5/15/39 $ 7,212,065
Maryland - 0.7%
3,000,00A/A3 Maryland State Health & Higher Educational Facilities Authority Revenue, 5 $ 3,082,980
Massachusetts - 4.8%
2,685,00NR/Aaa Lowell Massachusetts General Obiligation, 5.0%, 12/15/15 $ 2,983,384
2,000,00AA+/Aa1 Massachusetts Health & Educational Facilities Authority Revenue, 5.0%, 7/1 2,073,020
1,250,00AAA/Aaa Massachusetts Health & Educational Facilities Authority Revenue, 5.25%, 7/ 1,400,800
1,550,00BBB-/Baa3 Massachusetts Health & Educational Facilities Authority Revenue, 5.25%, 7/ 1,554,588
1,600,00BBB/NR Massachusetts Health & Educational Facilities Authority Revenue, 5.45%, 11 1,643,840
2,120,00BBB/Baa3 Massachusetts Health & Educational Facilities Authority Revenue, 5.625%, 7 2,167,403
900,0BBB/Baa3 Massachusetts Health & Educational Facilities Authority Revenue, 6.25%, 7/ 960,714
2,750,00BBB/Baa2 Massachusetts Health & Educational Facilities Authority Revenue, 6.625%, 7 2,938,513
500,0BBB-/NR Massachusetts State Development Finance Agency, 5.5%, 1/1/35 493,820
1,100,00BBB/Baa2 Massachusetts State Development Finance Agency, 5.625%, 10/1/24 1,153,526
1,000,00BBB/Baa2 Massachusetts State Development Finance Agency, 5.7%, 10/1/34 1,042,240
2,000,00AAA/Aaa University of Massachusetts Building Authority Project Revenue, 5.25%, 11/ 2,148,960
$ 20,560,808
Michigan - 1.8%
5,000,00BB/NR Macomb County Hospital Finance Authority Revenue, 5.875%, 11/15/34 $ 4,754,100
2,000,00A/A2 Michigan State Hospital Finance Authority Revenue, 5.5%, 11/1/15 2,184,680
1,025,00BB/Ba2 Pontiac Hospital Finance Authority Revenue, 6.0%, 8/1/07 1,013,612
$ 7,952,392
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited) (continued)
Principal S&P/Moody's
Amount Ratings Value
Minnesota - 0.8%
$ 2,000,000A-/NR Duluth Economic Development Authority Health Care Facilities Revenue, 5.25 $ 2,055,800
1,500,00A-/NR Duluth Economic Development Authority Health Care Facilities Revenue, 5.25 1,538,775
$ 3,594,575
Missouri - 0.4%
1,720,00AA/Aa3 Missouri State Health & Educational Authority Health Facilities Revenue, 5 $ 1,806,860
Montana - 0.3%
1,350,00NR/A3 Montana Finance Authority Hospital Facilities Revenue, 5.0%, 6/1/24 $ 1,359,450
Nevada - 2.2%
3,000,00B-/NR Clark County Industrial Development Revenue, 5.5%, 10/1/30 $ 2,901,900
1,500,00BBB+/Baa1 Henderson Nevada Health Care Facilities Revenue, 5.625%, 7/1/24 1,582,350
5,000,00BB/Ba2 Washoe County Water Facility Revenue, 5.0%, 3/1/36 5,087,850
$ 9,572,100
New Hampshire - 1.6%
1,325,00AA/Aa2 Concord New Hampshire General Obligation, 5.0%, 7/15/13 $ 1,455,804
1,205,00AA/Aa2 Concord New Hampshire General Obligation, 5.0%, 7/15/14 1,325,946
1,020,00AA/Aa2 Concord New Hampshire General Obligation, 5.0%, 7/15/15 1,123,132
2,000,00NR/NR New Hampshire Business Finance Authority Revenue, 6.05%, 9/1/29 1,875,540
1,000,00A+/A2 New Hampshire Health & Education Facilities Authority Revenue, 5.75%, 10/1 1,065,660
$ 6,846,082
New Jersey - 3.4%
1,250,00BBB/Baa3 Camden County Improvement Authority Revenue, 5.75%, 2/15/34 $ 1,307,412
1,500,00BB/Ba2 New Jersey Health Care Facilities Financing Authority Revenue, 5.125%, 7/1 1,362,510
5,000,00BBB/Baa1 New Jersey Health Care Facilities Financing Authority Revenue, 5.375%, 7/1 5,158,950
3,500,00NR/NR New Jersey Health Care Facilities Financing Authority Revenue, 7.25%, 7/1/ 3,675,700
3,000,00BBB/Baa3 Tobacco Settlement Financing Corp., 6.25%, 6/1/43 3,007,290
$ 14,511,862
New Mexico - 0.6%
1,000,00AA/NR DoNa Ana County PILT Revenue, 5.25%, 12/1/25 $ 1,067,600
1,500,00NR/A3 Farmington New Mexico Hospital Revenue, 5.0%, 6/1/23 1,509,390
$ 2,576,990
New York - 4.9%
2,000,00NR/NR Dutchess County Industrial Development Agency Revenue, 7.5%, 3/1/29 $ 2,036,700
1,000,00NR/Aa2 New York City Industrial Development Agency, 5.0%, 7/1/27 1,044,720
1,000,00NR/Aa2 New York City Industrial Development Agency, 5.25%, 7/1/24 1,084,410
8,820,(aAA+/Aa2 New York City Transitional Finance Authority Revenue, 0.0%, 11/1/29 6,846,878
5,000,00AA-/A1 Port Authority of New York & New Jersey Revenue, 5.0%, 9/1/38 5,171,900
4,900,00AAA/Aaa Triborough Bridge & Tunnel Authority, 5.25%, 11/15/30 5,235,013
$ 21,419,621
North Carolina - 1.4%
3,000,00AA+/Aa1 North Carolina Capital Facilities Finance Agency Revenue, 5.125%, 7/1/42 $ 3,099,060
1,000,00AA/Aa3 North Carolina Capital Facilities Finance Agency Student Revenue, 5.0%, 6/ 1,029,510
1,000,00AA/Aa3 North Carolina Capital Facilities Finance Agency Student Revenue, 5.0%, 6/ 1,021,940
1,000,00NR/NR North Carolina Medical Care Commission Health Care Facilities Revenue, 5.0 1,016,200
$ 6,166,710
Ohio - 1.3%
2,000,00B-/Caa2 Cleveland Airport Special Revenue, 5.7%, 12/1/19 $ 1,580,240
3,000,00AAA/Aaa Columbus City School District, 5.0%, 12/1/32 3,129,270
1,000,00AAA/Aaa Hamilton County Hospital Facilities Revenue, 5.125%, 5/15/28 1,055,140
$ 5,764,650
Oregon - 0.7%
2,935,00NR/Aaa Oregon State Housing & Community Services Department Multi-Family Revenue, $ 3,029,566
Pennsylvania - 2.4%
5,000,00AAA/Aaa Pennsylvania State Turnpike Commission Oil Franchise Tax Revenue, 5.0%, 12 $ 5,208,400
3,000,00A-/NR Sayre Health Care Facilities Authority Revenue, 5.875%, 12/1/31 3,180,870
2,165,00AA+/Aa1 Swarthmore Borough Authority College Revenue, 5.0%, 9/15/31 2,224,516
$ 10,613,786
Puerto Rico - 3.9%
8,000,00A/Baa1 Puerto Rico Commonwealth Highway & Transportation Authority Revenue, 5.125 $ 8,276,800
5,000,00A-/Baa1 Puerto Rico Public Buildings Authority Revenue, 5.25%, 7/1/33 5,302,700
3,000,00BBB+/Baa2 Puerto Rico Public Finance Corp., 5.75%, 8/1/27 3,333,870
$ 16,913,370
Rhode Island - 1.1%
1,545,00BBB/Baa3 Tobacco Settlement Financing Corp., 6.125%, 6/1/32 $ 1,538,928
3,100,00BBB/Baa3 Tobacco Settlement Financing Corp., 6.25%, 6/1/42 3,101,426
$ 4,640,354
South Carolina - 4.1%
6,000,00A-/A3 Berkeley County School District Installment Lease, 5.0%, 12/1/28 $ 6,088,860
5,000,00AAA/Aaa Florence County Hospital Revenue, 5.25%, 11/1/34 5,327,550
3,500,00A/A2 Lexington County Health Services District, Inc., Hospital Revenue, 5.5%, 1 3,659,775
2,500,00A-/A3 South Carolina Jobs Economic Development Authority Revenue, 5.5%, 11/15/23 2,595,350
$ 17,671,535
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited) (continued)
Principal S&P/Moody's
Amount Ratings Value
Tennessee - 0.6%
$ 2,500,000NR/Baa3 Knox County Health Educational & Housing Facilities Board Hospital Revenue $ 2,564,725
Texas - 3.5%
4,263,00NR/Aaa Houston Housing Financing Corp., 6.25%, 9/20/31 $ 4,722,168
2,750,00AAA/Aaa Lower Colorado River Authority, 5.0%, 5/15/31 2,826,890
1,711,00NR/Aaa Panhandle Regional Housing Finance Corp., 6.6%, 7/20/31 1,872,587
3,000,00BBB/Baa2 Richardson Hospital Authority, 6.0%, 12/1/34 3,133,590
1,000,00BBB-/NR Seguin Higher Education Facilities Corp. Revenue, 5.0%, 9/1/23 982,230
1,500,00NR/Baa3 Texas State Student Housing Revenue, 6.5%, 9/1/34 1,579,710
$ 15,117,175
Vermont - 0.3%
1,295,00AA/Aa3 Vermont Educational & Health Buildings Financing Agency Revenue, 5.0%, 7/1 $ 1,345,868
Virginia - 2.6%
5,000,00AA+/Aa1 Commonwealth of Virginia Transportation Revenue, 5.0%, 5/15/12 $ 5,489,300
1,500,00NR/A3 Prince William County Industrial Development Hospital Revenue, 5.2%, 10/1/ 1,566,150
3,925,00NR/A3 Prince William County Industrial Development Hospital Revenue, 5.35%, 10/1 4,119,052
$ 11,174,502
Washington - 4.3%
8,000,00AAA/Aaa King County Washington Sewer Revenue, 5.0%, 1/1/35 $ 8,247,120
3,000,00AAA/Aaa Spokane County General Obligation, 5.0%, 12/1/33 3,091,860
7,000,00BBB/Baa3 Tobacco Settlement Authority Revenue, 6.625%, 6/1/32 7,216,510
$ 18,555,490
Wisconsin - 0.8%
3,500,00BBB+/NR Wisconsin State Health & Educational Facilities Authority Revenue, 5.6%, 2 $ 3,564,295
TOTAL TAX-EXEMPT OBLIGATIONS
(Cost $311,866,531) (b) $ 326,271,621
Shares
COMMON STOCKS - 36.8% of Net Assets
Energy - 1.5%
Oil & Gas - 1.5%
50,000 ChevronTexaco Corp. $ 3,104,000
45,000 Kerr-McGee Corp. 3,494,700
Total Energy $ 6,598,700
Materials - 3.3%
Chemicals - 2.9%
83,000 Eastman Chemical Co. $ 4,792,420
96,022 Lyondell Chemical Co. 3,250,345
61,128 PPG Industries, Inc. 4,398,160
$ 12,440,925
Construction Materials - 0.0%
3,950 Monarch Cement Co. $ 88,283
Metals & Mining - 0.4%
39,800 Freeport-McMoRan Copper & Gold, Inc. $ 1,664,436
200 Worthington Industries, Inc. 4,190
$ 1,668,626
Total Materials $ 14,197,834
Industrials - 0.9%
Commercial Services & Supplies - 0.9%
39,600 R.R. Donnelley & Sons Co. $ 1,315,116
200,227 ServiceMaster Co. 2,661,017
Total Industrials $ 3,976,133
Capital Goods - 2.0%
Automobiles - 0.7%
80,000 General Motors Corp. $ 2,853,600
Household Durables - 1.3%
50,000 Bassett Furniture Industries, Inc. $ 952,500
48,386 Kimball International, Inc. 691,436
33,700 Knape & Vogt Manufacturing Co. 432,438
166,444 Tupperware Corp. 3,410,438
$ 5,486,812
Total Capital Goods $ 8,340,412
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited) (continued)
Shares Value
Food, Beverage & Tobacco - 4.4%
Food & Staples Retailing - 0.5%
140,947 Lance, Inc. $ 2,245,286
Food Retail - 0.5%
78,100 ConAgra Foods, Inc. $ 2,133,692
Tobacco - 3.4%
76,000 Altria Group, Inc. $ 4,989,400
115,000 Loews Corp. - Carolina Group 3,765,100
33,000 Reynolds American, Inc. 2,704,350
56,000 UST, Inc. 3,060,400
$ 14,519,250
Total Food, Beverage & Tobacco $ 18,898,228
Health Care - 3.2%
Pharmaceuticals - 3.2%
281,215 Bristol-Myers Squibb Co. $ 7,038,811
216,536 Merck & Co., Inc. 6,864,191
Total Health Care $ 13,903,002
Financials - 4.4%
Commercial Banks - 3.9%
78,200 FirstMerit Corp. $ 2,035,546
163,100 KeyCorp 5,382,300
90,000 National City Corp. 3,219,300
67,800 Regions Financial Corp. 2,187,228
222,700 TrustCo Bank Corp., NY 2,674,627
28,642 Wachovia Corp. 1,518,312
$ 17,017,313
Thrifts & Mortgage Finance - 0.5%
50,000 Washington Mutual, Inc. $ 2,098,000
Total Financials $ 19,115,313
Telecommunication Services - 2.6%
Diversified Telecommunication Services - 2.6%
257,900 AT&T Corp. $ 5,010,997
260,000 SBC Communications, Inc. 6,253,000
Total Diversified Telecommunication Services $ 11,263,997
Wireless Telecommunication Services - 0.0%
(c) Nextel Communications, Inc. $ 27,164
Total Wireless Telecommunication Services $ 27,164
Total Telecommunication Services $ 11,291,161
Utilities - 14.5%
Electric Utilities - 10.0%
137,135 Ameren Corp. $ 7,058,338
200,000 Consolidated Edison, Inc. 8,550,000
138,400 Empire District Electric Co. 3,147,216
229,293 Exelon Corp. 10,400,730
74,383 Great Plains Energy, Inc. 2,305,129
67,056 NSTAR 3,721,608
64,000 PG&E Corp. 2,251,520
179,000 Southern Co. 5,749,480
$ 43,184,021
Gas Utilities - 2.6%
172,185 Atmos Energy Corp. $ 4,747,140
167,249 KeySpan Corp. 6,614,698
$ 11,361,838
Multi-Utilities - 1.9%
303,253 Duke Energy Corp. $ 8,184,799
Total Utilities $ 62,730,658
TOTAL COMMON STOCKS
(Cost $147,394,375) $ 159,051,441
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited) (continued)
Shares Value
NON-CONVERTIBLE PREFERRED STOCKS - 25.3% of Net Assets
Energy - 1.2%
Oil & Gas - 1.2%
49,300 Apache Corp., Series B, 5.68% $ 5,077,900
Total Energy $ 5,077,900
Financials - 20.1%
Capital Markets - 3.3%
57,000 Bear Stearns Companies, Inc., Series F, 5.72% $ 3,021,000
40,000 Bear Stearns Companies, Inc., Series G, 5.49% 2,020,000
100,000 Lehman Brothers Holdings, Inc., 6.5% 2,710,000
19,000 Lehman Brothers Holdings, Inc., Series C, 5.94% 986,100
30,000 Lehman Brothers Holdings, Inc., Series D, 5.67% 1,530,000
65,000 Merrill Lynch Preferred Capital Trust IV, 7.12% 1,734,119
87,000 Merrill Lynch Preferred Capital Trust V, 7.28% 2,346,549
$ 14,347,768
Commercial Banks - 3.7%
94,000 Bank of America Corp., Series VI, 6.75% $ 5,217,000
30,000 Bank One Capital V, 8.0% 778,737
105,000 Bank One Capital VI, 7.2% 2,744,198
27,000 Fleet Capital Trust VII, 7.2% 700,116
200,000 Royal Bank of Scotland Group Plc, Series L, 5.75% 4,950,000
55,000 Wachovia Preferred Funding Corp., Series A, 7.25% 1,591,150
$ 15,981,201
Consumer Finance - 0.8%
18,000 MBNA Capital, Series D, 8.125% $ 480,908
50,000 SLM Holding Corp., Series A, 6.97% 2,850,000
$ 3,330,908
Diversified Financial Services - 1.7%
55,000 Citigroup Inc., Series G, 6.213% $ 2,882,000
81,500 Citigroup Inc., Series M, 5.864% 4,303,200
$ 7,185,200
Insurance - 2.2%
110,000 ACE Ltd., Series C, 7.8% $ 2,943,600
70,000 RenaissanceRe Holdings, Ltd., Series C, 6.08% 1,716,400
70,000 St. Paul Capital Trust I, 7.6% 1,819,452
109,000 XL Capital, Ltd., Series B, 7.625% 2,923,380
$ 9,402,832
Real Estate - 2.2%
27,000 Equity Office Properties Trust, Series G, 7.75% $ 718,200
92,000 Home Properties New York, Inc., Series F, 9.0% 2,520,800
40,000 Prologis Trust, Series G, 6.75% 1,029,600
60,000 PS Business Parks, Inc., Series H, 7.0% 1,509,000
22,000 PS Business Parks, Inc., Series I, 6.875% 547,800
35,480 Public Storage, Inc., Series T, 7.625% 932,060
94,000 Regency Centers Corp., Series C, 7.45% 2,444,940
$ 9,702,400
Thrifts & Mortgage Finance - 6.2%
12,000 Countrywide Capital IV, 6.75% $ 309,641
201,000 Fannie Mae, Series L, 5.125% 9,175,650
114,000 Fannie Mae, Series M, 4.75% 4,788,000
100,000 Fannie Mae, Series N, 5.5% 4,841,000
57,000 Freddie Mac, 5.81% 3,075,150
39,000 Freddie Mac, Series F, 5.0% 1,743,690
58,000 Freddie Mac, Series K, 5.79% 2,960,900
$ 26,894,031
Total Financials $ 86,844,340
Utilities - 4.0%
Electric Utilities - 3.6%
98,000 Alabama Power Co., 5.3% $ 2,486,750
113,000 Alabama Power Co., 5.83% 2,951,560
80,000 Energy East Capital Trust I, 8.25% 2,090,602
78,000 Interstate Power and Light Co., Series B, 8.375% 2,676,180
40,000 Mississippi Power Co., 5.25% 988,752
7,700 PPL Electric Utilities Corp., 4.5% 650,650
72,000 Southern California Edison Co., 4.32% 1,472,400
94,000 Virginia Power Capital Trust II, 7.375% 2,475,146
$ 15,792,040
Gas Utilities - 0.4%
62,000 Southern Union Co., Series C, 7.55% $ 1,715,540
Total Utilities $ 17,507,580
TOTAL NON-CONVERTIBLE PREFERRED STOCKS
(Cost $109,212,187) $ 109,429,820
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited) (continued)
Shares Value
CONVERTIBLE PREFERRED STOCKS - 2.1% of Net Assets
Industrials - 0.5%
Aerospace & Defense - 0.5%
15,000 Northrop Grumman Corp., 7.0% $ 1,995,000
Total Industrials $ 1,995,000
Telecommunication Services - 1.4%
Diversified Telecommunication Services - 1.4%
60,000 Alltel Corp., 7.75% $ 3,038,400
126,000 CenturyTel, Inc., 6.875% 3,173,940
Total Telecommunication Services $ 6,212,340
Utilities - 0.2%
Electric Utilities - 0.2%
31,000 DTE Energy Co., 8.75% $ 784,300
Total Utilities $ 784,300
TOTAL CONVERTIBLE PREFERRED STOCKS
(Cost $8,778,406) $ 8,991,640
TAX-EXEMPT MONEY MARKET MUTUAL FUND - 0.9% of Net Assets
4,057,293 BlackRock Provident Institutional Municipal Fund $ 4,057,293
TOTAL TAX-EXEMPT MONEY MARKET MUTUAL FUND
(Cost $4,057,293) $ 4,057,293
TOTAL INVESTMENTS IN SECURITIES - 140.5%
(Cost $581,308,792) (d) $ 607,801,815
OTHER ASSETS AND LIABILITIES 0.2% $ 1,133,699
PREFERRED SHARES AT REDEMPTION VALUE INCLUDING
DIVIDENDS PAYABLE - (40.7)% $ (176,250,000)
NET ASSETS APPLICABLE TO COMMON SHAREOWNERS - 100.0% $ 432,685,514
NR Security not rated by S&P or Moody's.
(a) Indicates a security that has a zero coupon that remains in effect until a predetermined
date at which time the stated coupon rate becomes effective until final maturity.
(b) The concentration of tax-exempt investments by type of obligation/market sector is as follows:
Insured 20.6
General Obligation 1.4
Revenue Bonds:
Health Revenue 27.2
Development Revenue 10.1
Tobacco Revenue 9.2
Education Revenue 5.9
Transportation Revenue 5.7
Other 4.7
School District Revenue 3.5
Utilities Revenue 3.4
Housing Revenue 2.9
Facilities Revenue 1.6
Water Revenue 1.5
Pollution Revenue 1.4
Airport Revenue 0.5
Gaming Revenue 0.4
100.0
Pioneer Tax Advantaged Balanced Trust
SCHEDULE OF INVESTMENTS 2/28/05 (unaudited) (continued)
(c) Non-incoming producing.
(d) At February 28, 2005, the net unrealized gain on investments based on cost for federal income tax purposes
of $581,291,957 was as follows:
Aggregate gross unrealized gain for all investments in which there is an excess of val $ 32,996,499
Aggregate gross unrealized loss for all investments in which there is an excess of tax (6,486,641)
Net unrealized gain $ 26,509,858
For financial reporting purposes net unrealized gain on investments was $26,493,023 and cost of
investments aggregated $581,308,792.
Purchases and sales of securities (excluding temporary cash investments)
for the period ended February 28, 2005, aggregated $37,287,440. and $36,198,072, respectively.
The interest rate swaps outstanding as of February 28, 2005 were as follows:
Termination Notional Fixed Unrealized
Counterparty Date Amount (000) Rate Floating Rate Appreciation
UBS AG Sept. 1, 2009 $106,000 2.855% 1 month BMA $1,557,882
ITEM 2. CONTROLS AND PROCEDURES.
(a) Disclose the conclusions of the registrant's principal executive officer or
officers and principal financial officer or officers, or persons performing
similar functions, about the effectiveness of the registrant's disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR
270.30a-3(c))) as of a date within 90 days of the filing date of the report
that includes the disclosure required by this paragraph, based on their
evaluation of these controls and procedures required by Rule 30a-3(b)
under the Act (17 CFR270.30a-3(b))) and Rule 13a-15(b) or 15d-15(b)
under the Exchange Act (17 CFR240.13a-15(b) or 240.15d-15(b)).
The registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on an evaluation of
these controls and procedures as of a date within 90 days prior to the filing
date of this report.
(b) Disclose any change in the registrant's internal controls over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR270.30a-3(d))
that occurred during the registrant's last fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the registrant's
internal control over financial reporting.
There was no significant change in the registrant's internal controls over
financial reporting that occurred during the registrant's last fiscal quarter
that has materially affected, or is reasonably likely to materially affect,
the registrant's internal control over financial reporting.
ITEM 3. EXHIBITS.
(a) A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2 under the Act
(17 CFR 270.30a-2).
Filed herewith.
SIGNATURES
[See General Instruction F]
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Pioneer Tax Advantaged Balanced Trust
By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr, President
Date April 30, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ John F. Cogan, Jr.
John F. Cogan, Jr., President
Date April 30, 2005
By (Signature and Title)* /s/ Vincent Nave
Vincent Nave, Treasurer
Date April 30, 2005
* Print the name and title of each signing officer under his or her signature.